Budget committee

A budget committee is the group of people within an organization that reviews, adjusts, and approves the budgets submitted by department managers. Committee members also review and approve capital budget requests. Once the budget is finalized, the committee then switches to comparing actual results to the budget, and taking steps to ensure that actual results do not stray far from expectations.

Since the budget should support the strategic direction of the organization, all members of the budget committee should be conversant in the details of the entity's strategy; this means that they are all members of senior management.

Related Courses

Capital Budgeting